Wall Street Rallies as Canada Lifts Tech Tax, Reigniting US Trade Hopes

S&P 500, Nasdaq, and Dow all post gains after Canada scraps tax on US tech firms; Moderna surges on flu vaccine trial results.

New York | June 30, 2025 —
Wall Street kicked off the week on a positive note as major US indices climbed, boosted by Canada’s surprise decision to withdraw a tax targeting American tech companies. The move is widely seen as a gesture to revive trade talks with the United States after President Donald Trump suspended negotiations on Friday.

Also Read: Markets Snap 4-Day Rally: Nifty Falls Below 25,600, But Small & Midcaps Shine

As of early trading Monday:

The S&P 500 rose 0.3%, hitting 6,188.95
The Nasdaq Composite gained 0.3% at 20,328.90
The Dow Jones Industrial Average advanced 0.4% to 43,988.18

The decision from Ottawa, made public on Sunday, eliminated a contentious tax on US digital giants. Analysts say this could smoothen trade relations, especially in a tense atmosphere of tariffs and reciprocal measures.

Also Read: Ellenbarrie Industrial Gases IPO Listing Tomorrow: Grey Market Premium Signals This Much Gain

📈 Top Movers:

Moderna shares soared 4.8% following encouraging phase three clinical trial results for its upcoming seasonal flu vaccine, drawing strong investor confidence.

🌎 Backdrop:

Also Read: LiveIndia Update – Nestle India Share Price Steady Today

Friday’s abrupt halt of trade talks by President Trump had rattled markets temporarily. However, Canada’s reversal of the tech tax signals an effort to de-escalate, fueling optimism among investors about a possible resumption of dialogue.

🏷️ Tags:

Wall Street, US stock market, Nasdaq, S&P 500, Dow Jones, Canada tech tax, US-Canada trade, President Trump, US tech firms, Moderna vaccine news, stock market rally, trade talks revival, global markets, phase three clinical trial

News Desk